Publication Date: 2017-12-13
Practice Area: Mergers and Acquisitions
Industry: Software | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Montgomery-Reeves
Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Stuart A. Davidson and Christopher Martins, Robbins Geller Rudman & Dowd LLP, Boca Raton, FL; David T. Wissbroecker and Edward Gergosian, Robbins Geller Rudman & Dowd LLP, San Diego, CA, attorneys for plaintiff
for defendant: Thomas A. Beck, Blake Rohrbacher, and Susan M. Hannigan, Richards, Layton & Finger, P.A., Wilmington, DE, attorneys for defendants.
Case Number: D67968
Although proxy failed to disclose identity of selling companys key negotiators, stockholders challenge to tender offer and merger transaction dismissed for failure to plead non-exculpated claims against co-founders and directors, where there was no evidence that majority of board and tendering stockholders were interested or non-independent.